Australian Potash : Emerging Resources Conference Presentation

For personal use only

ASX ANNOUNCEMENT

ASX: APC

8 February 2022

Emerging Resources Conference Presentation

Australian Potash Limited (ASX: APC or the Company) is pleased to provide a copy of the presentation that will be given today by Managing Director & CEO Matt Shackleton at the Shaw and Partners Emerging Resources Conference.

This release was authorised by the Managing Director & CEO.

Matt Shackleton	Michelle Blandford
Managing Director & CEO	Company Secretary
[e-mail]	[e-mail]
[phone]	[phone]

About Australian Potash Limited onlyuse personalFor

APC holds a 100% interest in the Lake Wells Sulphate of Potash (LSOP), located approximately 500km northeast of Kalgoorlie, in Western Australia's Eastern Goldfields. The Company is finalising pre-

development plans for

commencementof construction. First production from the LSOP is scheduled for 24 to 27 months from a Final Investment Decision.

K-BriteTM is a registered trademark brand of Australian Potash Limited and the brand under which the suite of high quality, premium SOP products from the LSOP will be marketed.

APC holds a 100% interest in the Laverton Downs Project, located 5kms north of

Laverton, in Western Australia's Eastern Goldfields.i

APC holds a 30% free-carried interest in the Lake Wells Gold Project, located 500km northeast of Kalgoorlie, in Western Australia's Eastern Goldfields.ii

Please visit www.australianpotash.com.aufor more information.

• Refer to ASX Announcement 9 April 2021 ii Refer to ASX Announcement 8 April 2021

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Low Cost, Organically Certified,

Environmentally Sustainable,

Green Sulphate of Potash

www.australianpotash.com.au

Shaw & Partners

Emerging Resources

Presentation

February 2022

ersonal use only

Disclaimer

Nature of this document

This presentation has been prepared by Australian Potash Limited (APC or the Company). The information is based on publicly available information, internally developed data and other sources. By receiving this presentation, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer. It is the responsibility of all recipients of this presentation to obtain all necessary approvals to receive this presentation and receipt of this presentation will be taken by the Company to constitute a representation and warranty that all relevant approvals have been obtained.

Not an offer

This presentation is for information purposes only and does not purport to be all inclusive or to contain all information about the Company or any of the assets, current or future, of the Company. This presentation does not comprise a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with ASIC) or any other law. This presentation also does not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities in any jurisdiction nor shall it or any part of it form the basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or commitment with respect to securities. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. This presentation and its contents must not be distributed, transmitted or viewed by any person in the United States or any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

Not investment advice

This presentation is not investment or financial product advice (nor tax, accounting or legal advice) and its contents are not intended to be used for the basis of making an investment decision. Recipients of this presentation should carefully consider whether the Company is an appropriate investment for them in light of their personal circumstances, including their financial and taxation position. This presentation does not take into account the individual investment objectives, financial situation and particular needs of each investor or shareholder. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither APC nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company's securities or any other financial products.

Competent Persons' Statement

#The information in this report that relates to the Mineral Resource is based on information announced to the ASX on 8 August 2019. APC confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcement, and that all material assumptions and technical parameters underpinning the Estimate in the relevant market announcement continue to apply.

The information in the announcement that relates to Mineral Resources is based on information that was compiled by Mr Duncan Gareth Storey. Mr Storey is a Director and Consulting Hydrogeologist with AQ2, a firm that provides consulting services to the Company. Neither Mr Storey nor AQ2 own either directly or indirectly any securities in the issued capital of the Company. Mr Storey has 30 years of international experience. He is a Chartered Geologist with, and Fellow of, the Geological Society of London (a Recognised Professional Organisation under the JORC Code 2012). Mr Storey has experience in the assessment and development of paleochannel aquifers, including the development of hypersaline brines in Western Australia. His experience and expertise are such that he qualifies as a Competent Person as defined in the 2012 edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore reserves". Mr Storey consents to the inclusion in this report of the matters based on this information in the form and context as it appears.

The information in this report that relates to mineral processing is based on information compiled by Mr Antoine Lefaivre P.Eng, a Competent Person who is a Member of the Ordre des Ingénieurs du Québec (Order of Engineers of Quebec). Mr Lefaivre is employed by Novopro Projects Inc, a consultant to the Company, and has sufficient experience that is relevant to the style of minerals processing and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Lefaivre consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements Disclaimer

This announcement contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

Financial Forecasts

The forecast financial information stated in this presentation is based on the Company's Front End Engineering Design Program results as released to the ASX on 20 April 2021. The Company confirms that all material assumptions underpinning the forecast financial information continue to apply and have not materially changed.

www.australianpotash.com.au 2

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Australia's Green SOP Project

FEED Program* positions the Lake Wells SOP K-BriteTM product as a genuinely green, premium fertiliser product for distribution into the world's most lucrative markets

'SHOVEL READY': DEBT 70% COMPLETE, EQUITY FUNDING

100% OWNED - TIER 1 LOCATION

FULLY PERMITTED

AUSTRALIA'S LARGEST MEASURED SOP RESOURCE#

HIGH GRADE, ORGANICALLY CERTIFIED PRODUCT LINES

HIGH PENETRATION HYBRID RENEWABLE POWER STATION

GREEN LOAN VERIFICATION

www.australianpotash.com.au		*Refer ASX announcement 20 April 2021; #Refer ASX announcement 8 August 2019
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1. genuinely green, premium fertiliser